Summary
MetLife Inc. (MET) filed a Form 8-K on December 3, 2002, to correct previously reported financial figures in its Quarterly Report on Form 10-Q for the period ended September 30, 2002. The filing specifically addresses discrepancies in the "Liquidity and Capital Resources -- The Company -- Consolidated Cash Flows" section. Investors should note that these are not new events or changes in financial condition, but rather restatements of previously disclosed information to ensure accuracy.
Key Highlights
- 1Correction of financial data in the Q3 2002 Form 10-Q.
- 2Specifically revises amounts related to net cash provided by financing activities for the nine months ended September 30, 2002 and 2001.
- 3Adjusts reported net cash from financing activities for nine months ended Sept 30, 2002, from $4,476 million to $3,787 million.
- 4Adjusts reported net cash from financing activities for nine months ended Sept 30, 2001, from $823 million to $921 million.
- 5Corrects figures for deposits to policyholders' account balances exceeding withdrawals for the nine months ended September 30, 2002 and 2001.
- 6Revises policyholder account balance excess for nine months ended Sept 30, 2002, from $4,624 million to $3,935 million.
- 7Revises policyholder account balance excess for nine months ended Sept 30, 2001, from $2,321 million to $2,419 million.